Vistaprint Reports Lower Income on Double-Digit Revenue Increase

• During the first quarter, the company generated $30.5 million of cash from operations and $17.8 million in free cash flow, defined as cash from operations less purchases of property, plant and equipment, purchases of intangible assets, and capitalization of software and website development costs.

Operating Highlights:

Vistaprint acquired approximately 1.9 million new customers in the first fiscal quarter ended September 30, 2011.
On a trailing 12-month basis, unique active customer count was 11.9 million. (Unique active customer count is the number of individual customers who purchased from us in a given period, with no regard to the frequency of purchase.)
Total order volume in the first quarter of fiscal 2012 was approximately 5.9 million, reflecting an increase of approximately 18 percent over total orders of approximately 5.0 million in the same quarter a year ago.
Average order value in the first quarter including revenue from shipping and processing was $36.38, compared to $34.69 in the same quarter a year ago.
Revenue from customers in North America was $118.7 million, or 56 percent of total revenue in the first quarter. This represents 17 percent growth year over year in reported terms and in constant currency.

Other News:

During the quarter, Staples and Vistaprint started working together to bring a full suite of high-quality printed products to Staples customers, allowing them to create unique marketing materials and develop customized business cards and stationery. This new strategic partnership provides the opportunity to extend our reach on staples.com and in approximately 1,600 Staples retail locations across the U.S.

On October 24, 2011, Vistaprint entered into a definitive agreement to acquire Albumprinter Holding B.V., a privately held Dutch photo book company for EURO60.0 million payable at closing and up to an additional EURO5.0 million subject to a performance based earn-out.